FCA and PSA formally agree to merger:Merger Wednesday

[AlexB]

All that's left is January 4 Special Shareholder meetings, and given John/ Exor(with FCA), Peugeot family, French Government(with PSA) voting power..it pretty much a wrap.

 

[Bili]

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In any case, Lohscheller is increasing the pace of cutting 2100 jobs by 2021 and wants to define new so-called “focus areas” in Rüsselsheim before the closing of the mega merger, according to corporate circles. Specifically, the manager wants to cut dozens of positions in Process & Manufacturing Engineering (PME), for example.

Opel explained: “There are currently discussions about assigning one or the other further department to the focus areas in order to be able to offer the employees who work there expanded offers as part of the volunteer programs. But there are no decisions. “

Several departments are on the hit list​

If the personnel cuts have so far mainly affected specialists and administrative employees, the focus is now on engineers. The reason for this is the foreseeable excess capacities in development at Stellantis. Both PSA and FCA each bring a good 18,000 engineers into the network. Ferdinand Dudenhöffer, Head of the Center of Automotive Research (CAR), considers “at least one third” of the 36,000 positions to be obsolete.

The Opel development center ITEZ in Rüsselsheim is particularly under pressure. On the one hand because of the comparatively high wage costs in Germany. On the other hand, because Fiat has more know-how in the area of light commercial vehicles, for example, and Opel could take over the group-wide development competence here. The same applies to the certification of vehicles for the US market. “In the end there is hardly more than a design department left,” Dudenhöffer believes.

One thing is clear: the more than 4,500 employees in the ITEZ are facing hard times. Short-time work is already being carried out on a large scale. There is actually no shortage of projects. “People are completely overworked, across all levels,” states one manager. The mood is bad. Hardly anyone understands the ongoing downsizing.

 

[AlexB]

PSA’s last weekend of existence.